Tag: pnb fraud
Bank frauds detection and reporting increased due to Govt’s proactive measures – Finmin As per Finance Ministry due to Government’s proactive measures, there has been increased detection and reporting of bank frauds The above statement was given in response to Rajy Sabha Starred Question replied on 1.1.2019 by …
107 companies and 7 LLPs under SFIO scanner in PNB fraud case The Government has ordered investigation into the affairs of 107 companies and 7 LLPs under the provisions of Section 212(1)(c) of the Companies Act, 2013 and Section 43(3)(c)(i) of Limited Liability Partnership Act, 2008. The investigation …
There is complete removal/weak RBI powers on corporate governance at PSBs. No Banking Regulator Can Catch or Prevent All Frauds-RBI Governor Banking Regulatory Powers Should Be Ownership Neutral RBI Governor, Shri Urjit Patel in his speech at the Gujarat National Law University (GNLU) in Gandhinagar has stated that there has been …
RBI Discontinues Letters of Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits with immediate effect. In 2004, LoUs/LoCs were permitted by RBI allowing Authorised Dealers to Issue Guarantees upto USD 20 Million for Imports. Further, Master Direction No.5 of 2016 on ‘ External Commercial Borrowings, …
PNB Scam quantum can increase by Rs. 1300 more The Punjab National Bank has reported to the Stock Exchanges that the quantum of reported unauthorized transactions can increase by USD 204. 25 Mio (approx). The above price sensitive information was submitted in terms of regulation 30 of SEBI (LODR) Regulations …
We followed law-PNB response on media report quoting Nirav Modi that Bank closed all option to recover dues by going public. Punjab National Bank in its clarification submitted to BSE and NSE has stated that it has followed lawful avenues available as per law of land to recover its …
Expert Committee to look into role of various audits conducted in banks to check divergence in asset classification, provisioning and frauds Reserve Bank of India (RBI) in press release issued has stated that in view of large divergences observed in asset classification and provisioning in the credit portfolio of banks …
Bank has enough assets to meet any liability decided as per law-PNB Punjab National Bank (PNB) in its latest communication to Bombay Stock Exchange (BSE) has provided the following clarifications with reference to various queries raised by BSE and NSE based on the media report. Sl. No. Query Response …
Govt. denies news that Income Tax Department has estimated more than $3 billion loss to Indian Banks due to PNB fraud Finance Ministry has denied the news appearing in certain section of media that Tax Department has estimated that Indian banks could take a hit of more than …
PNB denies receiving Govt. instructions for conducting forensic audit. Punjab National Bank (PNB) in its latest communication to Bombay Stock Exchange (BSE) has informed that the bank has not received any instruction from any investigating/Govt. authority for conducting forensic audit. This reply was made in with reference to …
